Speech-to-text processing platform Authenticity.AI has closed its initial seed funding round from an affiliate of Knox Capital.
The capital will enable the RegTech startup to scale after an “overwhelming response” from US and international legal and compliance markets.
Leveraging AI technology, the company offers language translation and speech-to-text processing for audio and video formats. Once this has been processed it can be transformed into data and delivered to relevant business intelligence tools.
Customers in the legal, regulatory and compliance industries can utilise the platform for various processes.
Communication monitoring through video and audio files is becoming more important after regulations such as MiFID II or Dodd-Frank.
Authenticity.AI founder and CEO Michael McDonald said, “Our proprietary platform of highly trainable Artificial Intelligence audio recognition and language translation engines deliver superior results for our customers.
“By utilizing our multi-engine technology, we deliver highly accurate machine transcribed media or language translated data across dozens of languages and accents for our global customers. This data can be delivered to our world-class compliance monitoring platform, or to applications we’ve developed and integrated with such as Relativity and other leading legal and compliance tools.”
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